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more on the fiscal cliff as americans on all levels have to prepare to take the tax hit. hope it doesn't, but i'm going to break it down next. ♪ gerri: i always like to give you the straight poop on everything, and, today, i'm concerned about the fiscal cliff. in the past two days, two very well-connected professional money managers have spoken to me about their trepidation their clients have about the expiration of the bush tax cuts and the cut backs on spending. money is worried, concernend many are selling as you've seen. to read the stories of the press on the fiscal cliff, well, you'd think change is on the horizon just 33 days away, well, it doesn't maer much. in fact, just sit back, relax. the fiscal cliff is not a big deal. i'll quote one here. it's unlikely all of these bad things happen or stay in effect for an extended period of time. pundits call if the fiscal cliff smoke that is, instead o a cliff, the rising support for junking the fiscal approach as confusing and renaming it the austerity crisis or bomb. that's it. according to the u.s. news and world rep
more on the fiscal cliff as americans on all levels have to prepare to take the tax hit. hope it doesn't, but i'm going to break it down next. ♪ gerri: i always like to give you the straight poop on everything, and, today, i'm concerned about the fiscal cliff. in the past two days, two very well-connected professional money managers have spoken to me about their trepidation their clients have about the expiration of the bush tax cuts and the cut backs on spending. money is worried, concernend...
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Nov 29, 2012
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listen, going off the fiscal cliff will hurt our economy and will cost american jobs. republicans have taken action to avert the fiscal cliff by passing legislation to stop all the tax hikes. to replace the sequester, and pave way for -- pave the way for tax reform and entitlement reform. and we're the only ones with a balanced plan to protect the economy, protect american jobs, and protect the middle class from the fiscal cliff. but without spending cuts and entitlement reforms, it's going to be impossible to address our country's debt crisis. and get our economy going again and to create jobs. so right now, all eyes are on the white house. the country doesn't need a victory lap. it needs leadership. it's time for the president, congressional democrats, to tell the american people what spending cuts they're really willing to make. with that i'll take a few questions. >> speaker boehner, why will you not tell democrats what specific spending cuts you would like to see, especially within en titlements? >> it's been very clear over the last year-and-a-half, i've talked t
listen, going off the fiscal cliff will hurt our economy and will cost american jobs. republicans have taken action to avert the fiscal cliff by passing legislation to stop all the tax hikes. to replace the sequester, and pave way for -- pave the way for tax reform and entitlement reform. and we're the only ones with a balanced plan to protect the economy, protect american jobs, and protect the middle class from the fiscal cliff. but without spending cuts and entitlement reforms, it's going to...
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Nov 29, 2012
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we got news tonight that the president's opening bid in the fiscal cliff talks was extending the jobless benefits for another year. so he is doubling down on his policy. he wants more jobs benefits. what is the cost? and to you think that it is a good idea or a bad idea? >> two things. short-term cost of how it will really poisoned the well in these negotiations. we are talking about deficit reduction, and the president is proposing new spending at top of all the other spending. republicans going into the deficit reduction talks talking about another dividend tax cut is something like that. a very poisonous way to start since the negotiations between two sites. the second thing that is important here is how we are viewing these jobless benefits. the administration is firming in in terms of job creation. that is not what they are. gerri: this is a study they did it, extending jobless benefits would create 300,000 jobs. i had to read it twice to figure out what they were talking about . and it still made no sense to me. explain the contorted logic to work here. >> thee're saying by putting
we got news tonight that the president's opening bid in the fiscal cliff talks was extending the jobless benefits for another year. so he is doubling down on his policy. he wants more jobs benefits. what is the cost? and to you think that it is a good idea or a bad idea? >> two things. short-term cost of how it will really poisoned the well in these negotiations. we are talking about deficit reduction, and the president is proposing new spending at top of all the other spending....
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Nov 29, 2012
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when the reality is that millions of americans have already gone over the fiscal cliff. and so this is a conversation that in some regards is a waste of time in washington, we ought to be talking about creating jobs and not about deficit reduction. it troubles me when the president himself even seems to go for that line about deficit reducti reduction. it ought to be about job kraeks. >> is he being bold enough? because the one thing everybody hoped, president obama, second term, would come out fighting and swings and be the obama they came out voting for four years ago. and this moment, it doesn't strike me as being too audacious. >> one thing i hoped he wouldn't create in the second term, too much compromise, capitulating to the republicans, everybody saw what he was up against in the first term. and i just don't want to see him again let the republicans clean his clock. over the past couple of days, irskin bowles said earlier today, i saw on the internet that when he met with the president, the president signalled he may be willing to talk about the raising of taxes.
when the reality is that millions of americans have already gone over the fiscal cliff. and so this is a conversation that in some regards is a waste of time in washington, we ought to be talking about creating jobs and not about deficit reduction. it troubles me when the president himself even seems to go for that line about deficit reducti reduction. it ought to be about job kraeks. >> is he being bold enough? because the one thing everybody hoped, president obama, second term, would...
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fiscal cliff at the end of the year. but republicans are resisting any move that could end up raising taxes on the rich. we have the latest from washington. >> reporter: he says he wants a deal soon to cut spending but president obama is demanding republicans vote now to prevent the worst fall off the fiscal cliff, tax hikes on 98% of americans. >> the first job is to make sure tax on middle class families don't go up and since we all agree on this we should get that done. >> reporter: house democrats agree. >> if we can get a few house republicans to agree, as well, i will sign this bill. >> reporter: republican tom cole got on board. >> we all agree that we are not going to raise taxes on people that make less than $250,000. >> reporter: house speaker john boehner says no. once tax breaks get blocked democrats can go home for the holidays and on january 1 tax rates rise automatically for the top 2%. worried ceos came to capitol hill saying congress has to avoid the cliff. >> entitlements have to be touched and revenues
fiscal cliff at the end of the year. but republicans are resisting any move that could end up raising taxes on the rich. we have the latest from washington. >> reporter: he says he wants a deal soon to cut spending but president obama is demanding republicans vote now to prevent the worst fall off the fiscal cliff, tax hikes on 98% of americans. >> the first job is to make sure tax on middle class families don't go up and since we all agree on this we should get that done. >>...
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on-coming fiscal cliff. with time running out, there's hopeful talk but no real solutions. >> reporter: backed by 15 million americans, president obama says that he's optimistic about avoiding the so-called fiscal cliff, while at the same time pressuring law makers to get it done. >> i'm asking americans all across the country to make your voice heard. tell congress what a -- >> reporter: extra $2,000 in taxes next year if congress can't reach a deal by december 31st. republicans and democrats are at odds over taxes and entitlements, on taxes, the president wants them raised over $250,000. and the republicans disagree and instead want to cap them at 50,000. >> we're willing to put revenues on the table, as long as we're not raising the rates. >> reporter: balking at cuts to medicare, medicaid. and. >> we have already agreed to a trillion and a half dollars in cuts. in this session of congress. >> reporter: also on the hill today with one laugh of the bipartisan team that offered a deficit reduction plan in 2
on-coming fiscal cliff. with time running out, there's hopeful talk but no real solutions. >> reporter: backed by 15 million americans, president obama says that he's optimistic about avoiding the so-called fiscal cliff, while at the same time pressuring law makers to get it done. >> i'm asking americans all across the country to make your voice heard. tell congress what a -- >> reporter: extra $2,000 in taxes next year if congress can't reach a deal by december 31st....
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going off the fiscal cliff will hurt our economy, it will cost american jobs. republicans have taken action to overt the fiscal cliff by passing legislation to stop all the tax hikes. to replace the sequester. and pave way for -- pave the way for tax reform and entitlement reform. and we're the only ones with a balanced plan to protect the economy, protect american jobs and protect the middle class from the fiscal cliff. but without spending cuts and entitlement reform, it will be impossible to address the debt crisis and get our economy going again and create jobs. so right now all eyes are on the white house. the country doesn't need a victory lap. it needs leadership. time for the president, congressional democrats to tell the american people what spending cuts they're really willing to make. with that i'll take a few questions. >> doctor would you not tell democrats what specific spending cuts you would like to see? >> it's been clear over the last year and a half i've talked to the president about many of them. you can look at our budget where we drought l
going off the fiscal cliff will hurt our economy, it will cost american jobs. republicans have taken action to overt the fiscal cliff by passing legislation to stop all the tax hikes. to replace the sequester. and pave way for -- pave the way for tax reform and entitlement reform. and we're the only ones with a balanced plan to protect the economy, protect american jobs and protect the middle class from the fiscal cliff. but without spending cuts and entitlement reform, it will be impossible to...
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caller: i don't think the american people will get anything unless we let things go over the fiscal cliff. republicans will never agree to anything. i think obama needs to stick to his guns. guest: that is one of view of some liberals and some republicans say let's go over the cliff. then you get to cut tax rates. that is easier politically to do. nobody says it is their first choice. some say the democrats could have more leverage if we go over the cliff. some think tanks have said and most people understand it is a slope. it will be gradual. many people are looking to the stock-market to see what their reaction is if there is not a deal. that could have its own impact on the economy. host: author any strong advocates in the administration who maintain the payroll tax cuts? guest: chris van hollen is a top democrat in the house and has been vocal about saying we should continue it. larry summers said we should continue it. the obama administration had said that it was time to go back and let the tax cut expire. they have been quiet about that recently. host: now again, from "money" magaz
caller: i don't think the american people will get anything unless we let things go over the fiscal cliff. republicans will never agree to anything. i think obama needs to stick to his guns. guest: that is one of view of some liberals and some republicans say let's go over the cliff. then you get to cut tax rates. that is easier politically to do. nobody says it is their first choice. some say the democrats could have more leverage if we go over the cliff. some think tanks have said and most...
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he'll try to convince the american people the best way to avoid the fiscal cliff is to extend the bush era tax cuts for the middle class. >> it's too important for washington to screw this up. >> reporter: president obama is putting pressure on congressional republicans and he's enlisting middle class americans in getting the gop to take action on taxes. >> when the american people speak loudly enough, lo and behold congress listens. >> reporter: tomorrow he'll host a campaign style event where he calls on lawmakers to extend the tax rates on families making less than $250,000 a year. once that's done they can work on other details such as spending cuts and changes to the tax code, medicare and medicaid. >> he's out there campaigning for his position. i get it. we understand it. at the end of the day he has to lead on this issue. >> reporter: some republican lawmakers have said they are willing to compromise on the tax issue. oklahoma representative tom cole said the gop should sign off on the middle class extension. but house speaker john boehner isn't ready to budge yet. >> it will h
he'll try to convince the american people the best way to avoid the fiscal cliff is to extend the bush era tax cuts for the middle class. >> it's too important for washington to screw this up. >> reporter: president obama is putting pressure on congressional republicans and he's enlisting middle class americans in getting the gop to take action on taxes. >> when the american people speak loudly enough, lo and behold congress listens. >> reporter: tomorrow he'll host a...
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to pressure congress to back away from the "fiscal cliff." >> when the american people speak loudly enough, lo and behold congress listens. >> reporter: he will take his case on the road friday and is asking the public to join a twitter campaign calling on lawmakers to renew tax cuts for families making less than $250,000 a year without delay. >> he is campaigning for his position. i get it. we understand it. but at the end of the day he has to lead on this issue. >> reporter: while congressional leaders meet behind closed doors, some of the biggest names in corporate america are here on capitol hill meeting with lawmakers pushing for solutions. former tennessee governor phil bredesen told lawmakers everything needs to be on the table. >> i think there's a broad recognition it has to be both revenue and serious work on entitlements to make it happen. >> reporter: taxes are still the main sticking point. while president obama wants tax cuts to expire for the wealthiest americans, most republicans don't. behind closed doors wednesday, oklahoma's tom cole told his gop colleagues they s
to pressure congress to back away from the "fiscal cliff." >> when the american people speak loudly enough, lo and behold congress listens. >> reporter: he will take his case on the road friday and is asking the public to join a twitter campaign calling on lawmakers to renew tax cuts for families making less than $250,000 a year without delay. >> he is campaigning for his position. i get it. we understand it. but at the end of the day he has to lead on this issue....
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decide to do on this fiscal cliff business. katie, the next biggest one, $87 billion is an increase in the payroll tax. .9%, 2.9 to 3.8%, small business busy and self-employed. how does that promote growth. they're going to be hiring less and there are going to be fewer employees. >> don't they talk about this? why don't they do the add-ones that you're doing on the obama care taxes? >> i'm actually not sure about this. i'm pretty confused about why the romney campaign didn't hit the obama care tax argument harder on the campaign trail because the supreme court ruled it a tax for good reason. it had gone through the numbers here on your show. this hit small businesses and in return hits the middle class, the very people that these small businesses employ, the people who will get hid the hardest, even though making $200,000 per year are the ones employing the middle class that president obama keep propping up to get his agenda passed. >> now we have this $20 million medical device tax. this has been around. i believe you write t
decide to do on this fiscal cliff business. katie, the next biggest one, $87 billion is an increase in the payroll tax. .9%, 2.9 to 3.8%, small business busy and self-employed. how does that promote growth. they're going to be hiring less and there are going to be fewer employees. >> don't they talk about this? why don't they do the add-ones that you're doing on the obama care taxes? >> i'm actually not sure about this. i'm pretty confused about why the romney campaign didn't hit...
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middle class from the fiscal cliff. without spending cuts and entitlement reform, it will be impossible to address our countries debt crisis and get our economy going again and create jobs. right now, all eyes are on the white house. our country does not need a victory lap, it needs leadership. it is time for the president and congressional democrats to tell the american people what spending cuts they are really going to make. with that, i will take a few questions. [inaudible question] >> we have outlined very specific proposals that we passed in last year's budget and the budget before. we know what the venue is. what we do not know is what the white house is willing to do to get serious about solving our debt crisis. [inaudible question] >> i am not going to get into the details. it is very clear what kind of spending cuts need to occur. we have no idea what the white house is willing to do. [inaudible question] >> no, no, no. stop. i have to tell you, i am disappointed in where we are. i am disappointed in what has
middle class from the fiscal cliff. without spending cuts and entitlement reform, it will be impossible to address our countries debt crisis and get our economy going again and create jobs. right now, all eyes are on the white house. our country does not need a victory lap, it needs leadership. it is time for the president and congressional democrats to tell the american people what spending cuts they are really going to make. with that, i will take a few questions. [inaudible question]...
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we've been talking a lot this morning about the fiscal cliff the impact on middle american families particularly. but there are a lot of people who are saying today well, let's teach the republicans a lesson. let's let them go over the cliff. why not. and then see what happens. does it make any sense to you? >> look. you know, i'm into actually solving things. not retribution. i'm a teacher. and what you do is you try to -- you try to educate people. you know. if you have to protest. if you have to activate. you do those things. but at the end of the day the american people actually said really clearly in the election by the polling data about congress and you see what they said -- what was litigated during the election. and what they said during the election. every single day. barack obama, joe biden the people running for senate said we have to have a balanced approach which means more revenues. they said that. it was pretty clear. and the american people voted for the president and the biggest popular vote that someone who has re-elected has ever gotten. bottom line is the republicans need to
we've been talking a lot this morning about the fiscal cliff the impact on middle american families particularly. but there are a lot of people who are saying today well, let's teach the republicans a lesson. let's let them go over the cliff. why not. and then see what happens. does it make any sense to you? >> look. you know, i'm into actually solving things. not retribution. i'm a teacher. and what you do is you try to -- you try to educate people. you know. if you have to protest. if...
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republicans and democrats sparring over how to avoid a fiscal cliff. potential disaster that they created. >> and a clear majority of americans. not just democrats, but also a lot of republicans and a lot of independence agreed we should have a balanced approach. >> we all know that we have had this been in crisis coming at us like a freight train. it has to be dealt with. lou: 33 days to go. can the president and congress fix the mess they have created? the "a-team" joins us. washington is struggling with the fiscal cliff or at least say they are. teamsters president says no deal is fine by him. we will show you why hoffa and some of his union buddies are ready to go over the cliff. susan rice apology to or on capitol hill goes on. another day of meetings with senators and more unanswered questions. >> i still have many questions that remain unanswered. i continue to be troubled by the fact that the u.n. ambassador decided to play what was essentially a political role. lou: israel, gaza, egypt, and ron, american foreign policy. will we ever get the fa
republicans and democrats sparring over how to avoid a fiscal cliff. potential disaster that they created. >> and a clear majority of americans. not just democrats, but also a lot of republicans and a lot of independence agreed we should have a balanced approach. >> we all know that we have had this been in crisis coming at us like a freight train. it has to be dealt with. lou: 33 days to go. can the president and congress fix the mess they have created? the "a-team" joins...
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families, american businesses, have some certainty going into next year. >> this is not -- the fiscal cliff is not about long-term solutions to anything. the fiscal cliff is not about solutions, period, not real solutions. what we have here is political gamesmanship. >> greta: tonight republicans have a sizzling question for president obama, what is his plan? senator john cornyn putting that message into a video. ♪ >> greta: senator ron johnson sits on the budget committee. he joins us. how you doing, sir? >> very well. >> greta: before i ask you what you understand to be the president's plan, the republicans put the revenues on the table. where do you get those revenues? >> first of all, a number of republicans said they're willing to consider that if they see the other half of the president's promised balanced approach. you know, where is he going to start restrained growth in government? we're open to working with anybody who's willing to acknowledge the problem. >> greta: who's going to blink first? >> first of all, let me tell you where you should get revenue. >> greta: okay. >
families, american businesses, have some certainty going into next year. >> this is not -- the fiscal cliff is not about long-term solutions to anything. the fiscal cliff is not about solutions, period, not real solutions. what we have here is political gamesmanship. >> greta: tonight republicans have a sizzling question for president obama, what is his plan? senator john cornyn putting that message into a video. ♪ >> greta: senator ron johnson sits on the budget committee....
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. >> americans are concerned. but divided over the best solution to avoid the fiscal cliff. take a look at an abc news washington post poll that shows 60% of americans support upper income americans having their taxes raised. 37% oppose it. on issue of reducing deductions, 44% support that. 49% oppose it. much like lawmakers they realize there is a big problem that needs to be fixed but divided on how to fix it. >> in addition to the goings on in the capitol there is a big lunch at the white house today. governor romney coming by for a bite to eat. a lot of speculation about what might be discussed at the meal and the possibility of maybe future job? >> jay carney pushed back on that yesterday. the president said there was no suggestion here that he had a special assignment for him. the president invited mitt romney to come to the white house because he wanted to talk about moving the country forward. the president pointed out that out there on the campaign trail mitt romney had good ideas. he wanted to talk to him about that. not necessarily partisan ideas but ideas like jo
. >> americans are concerned. but divided over the best solution to avoid the fiscal cliff. take a look at an abc news washington post poll that shows 60% of americans support upper income americans having their taxes raised. 37% oppose it. on issue of reducing deductions, 44% support that. 49% oppose it. much like lawmakers they realize there is a big problem that needs to be fixed but divided on how to fix it. >> in addition to the goings on in the capitol there is a big lunch at...
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going off the fiscal cliff will hurt our economy. it will cost american jobs. republicans have taken action to avert the fiscal cliff by passing legislation to stop all the tax hikes, to replace the sequester, and pave the way for tax reform and entitlement reform. we are the only ones with a balanced plan to protect the economy, protect american jobs, and protect the middle class from the fiscal cliff. without spending cuts and entitlement reform, it will be impossible to address our country's debt crisis and get our economy going again and to create jobs. right now all eyes are on the white house. the country does not need a victory lap. it needs leadership. it is time for the president, congressional democrats to tell the american people what spending cuts they're willing to make. with that, i will take a few questions. [indiscernbile] it has been very clear over the last year and a half. i have talked to the president about many of them. you can look at our budgets where we outlined specific proposals that we passed last year and the year before. we know wh
going off the fiscal cliff will hurt our economy. it will cost american jobs. republicans have taken action to avert the fiscal cliff by passing legislation to stop all the tax hikes, to replace the sequester, and pave the way for tax reform and entitlement reform. we are the only ones with a balanced plan to protect the economy, protect american jobs, and protect the middle class from the fiscal cliff. without spending cuts and entitlement reform, it will be impossible to address our country's...
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. >> the tailgating outside fiscal cliff deals is incredible. >> and the sad part, for the american people who are watching from the outside, is they don't realize how much of this theater getting to the deal. we know we have to have -- boehner's going to have to talk tough because it seem likes he's holding firm and the white house is holding firm and the left groups are going to flip and right groups are going to flip and it's going to be this dance, and then we'll get to a deal somehow. if you're saying okay, am i -- are my taxes going up on the 1st or not? >> they are. >> they are, one way or the other. people in the country the way they pay for christmas, focus groups heard this over and over, take out a loan to buy presents, against what they think they'll get back in tax returns to pay back that loan. for those people, all of this dance, we joke, and it is funny and ridiculously childish and high school, maybe junior high, it's scary for people on outside saying -- >> the personal approval rating is 9%, up to 11% now. >> let's also keep in mind, optics are part of this. person who h
. >> the tailgating outside fiscal cliff deals is incredible. >> and the sad part, for the american people who are watching from the outside, is they don't realize how much of this theater getting to the deal. we know we have to have -- boehner's going to have to talk tough because it seem likes he's holding firm and the white house is holding firm and the left groups are going to flip and right groups are going to flip and it's going to be this dance, and then we'll get to a deal...
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cliff. and this from diane. maybe after lunch someone should give them a pail and shovel and let them play in the same sand box and show the republicans and democrats that they can play well together if they only try. keep the conversation going. facebook.com/carolcnn. coming up. the nfl reaches into n dam can sioux's pocket. his punishment for the kick to the groin. [ knock on door ] cool, you found it. wow. nice place. yeah. [ chuckles ] the family thinks i'm out shipping these. smooth move. you used priority mail flat-rate boxes. if it fits, it ships for a low, flat rate. paid for postage online and arranged a free pickup. and i'm gonna track them online, too. nice. between those boxes and this place, i'm totally staying sane this year. do i smell snickerdoodles? maybe. [ timer dings ] gotta go. [ male announcer ] priority mail flat rate boxes. online pricing starts at $5.15. only from the postal service. [ male announcer ] can a car be built around a state of mind? ♪ announcing the all
cliff. and this from diane. maybe after lunch someone should give them a pail and shovel and let them play in the same sand box and show the republicans and democrats that they can play well together if they only try. keep the conversation going. facebook.com/carolcnn. coming up. the nfl reaches into n dam can sioux's pocket. his punishment for the kick to the groin. [ knock on door ] cool, you found it. wow. nice place. yeah. [ chuckles ] the family thinks i'm out shipping these. smooth move....
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we are now approaching this fiscal cliff. it is time to govern. this election was a mandate for solutions. it was a mandate for consensus and compromise. house democrats have already said we would compromise. we want to get to higher ground with the republicans. i hope that speaker boehner will also see the handwriting on the wall and enforcing discipline in his own caucus and try and meet us in a compromise that reduces spending smartly, that pays down our deficit, that protects the middle class and that grows this economy again. we can do this if he is willing to compromise. today, he said, once again, he is not willing to compromise. >> here we go, round 14 or whatever it is. congressman steve israel, great to have you with us tonight. thanks so much. >>> the republican smear campaign against ambassador, susan rice, continues as more senators pile on. karen finney weighs in on what's the next best move then? the time is now to find out why the new push for immigration reform is making republicans very uncomfortable. stay with us. [ male announc
we are now approaching this fiscal cliff. it is time to govern. this election was a mandate for solutions. it was a mandate for consensus and compromise. house democrats have already said we would compromise. we want to get to higher ground with the republicans. i hope that speaker boehner will also see the handwriting on the wall and enforcing discipline in his own caucus and try and meet us in a compromise that reduces spending smartly, that pays down our deficit, that protects the middle...
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new research on the white house plan to avoid the so-called fiscal cliff is raising concerns about how much the tax hikes can do to keep the economy afloat. the edover an influential financial paper he says america needs to be focused on. a case showing the potential down sides of winning the lottery. we'll detail the case of a man who struck it rich big time, and then was found dead and buried under a concrete slab in someone's backyard. now could the woman accused of stealing his cash and killing him wind up a free woman? "kelly's court" takes a look. >> i would never hurt that man. he knows, everyone knows i would never hurt that man in any way. t from a legal settlement or annuity over 10 or even 20 years? call imperial structured settlements. the experts at imperial can convert your long-term payout into a lump sum of cash today. and i'm here to tell homeowners that are 62 and older about a great way to live a better retirement. it's called a reverse mortgage. [ male announcer ] call right now to receive your free dvd and booklet with no obligation. it answers questions like how a
new research on the white house plan to avoid the so-called fiscal cliff is raising concerns about how much the tax hikes can do to keep the economy afloat. the edover an influential financial paper he says america needs to be focused on. a case showing the potential down sides of winning the lottery. we'll detail the case of a man who struck it rich big time, and then was found dead and buried under a concrete slab in someone's backyard. now could the woman accused of stealing his cash and...
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he says it's not a fiscal cliff, it's more like a fiscal slope. there are some people that occupy the left side of the american political spectrum that would agree with howard dean saying listen, it's really not that big of a deal as deficit hawks are making it out to be. you would disagree, i would guess. >> well, i think howard is disagreeing a little bit, too. i think howard is saying it's time for meaningful deficit reduction. howard's become a deficit hawk. i think howard and i would disagree probably on some of the elements of what constitutes -- >> no, but he's saying it's not a disaster if it happens. >> well, i was going to get to that point. the fiscal cliff itself, howard is right, it's a slope. on day one the economy does not collapse and go into recession. but i worry a lot about the markets. the market reaction to going over the cliff, particularly if we go over the cliff in disarray where there's really no plan. everything's broken down. nobody knows where anybody is. i think that could be pretty ugly in the markets. having said tha
he says it's not a fiscal cliff, it's more like a fiscal slope. there are some people that occupy the left side of the american political spectrum that would agree with howard dean saying listen, it's really not that big of a deal as deficit hawks are making it out to be. you would disagree, i would guess. >> well, i think howard is disagreeing a little bit, too. i think howard is saying it's time for meaningful deficit reduction. howard's become a deficit hawk. i think howard and i would...
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the deadline for the fiscal cliff is drawing near. you have to imagine that that was a large part of romney's discussions today both with president obama and with ryan. >> kristen welker at the white house, thanks so much. >>> we take you back on capitol hill where congressional leaders put much of their energy on the ongoing fiscal cliff negotiations. oklahoma representative tom cole who broke ranks with republicans by embracing president obama's plan to raise taxes on the wealthy stuck to his guns this morning. >> if we can give the american people an early christmas present, if they can listen to the debate instead of be worried that their own taxes are going to go up, i think that actually strengthens our hand. i haven't changed my mind. i'm not going to come out here and be disingenuous to people. i think it would be a step in the right direction. >> today john boehner expressed disappointment at where the negotiations stand. as our first read team points out, by siding with the white house tom cole may be helping boehner get the
the deadline for the fiscal cliff is drawing near. you have to imagine that that was a large part of romney's discussions today both with president obama and with ryan. >> kristen welker at the white house, thanks so much. >>> we take you back on capitol hill where congressional leaders put much of their energy on the ongoing fiscal cliff negotiations. oklahoma representative tom cole who broke ranks with republicans by embracing president obama's plan to raise taxes on the...
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also the fiscal cliff. like a lot of things, trying to find a better job can be frustrating. so at university of phoenix we're working with a growing list of almost two thousand corporate partners - companies like microsoft, american red cross and adobe - to create options for you. not only that, we're using what we learn from these partners to shape our curriculum, so that when you find the job you want you'll be a perfect fit. let's get to work. >>> i would say the irs always wins. >> but your odds of winning are slim. >> but it will be less if i don't play. >> wise words the irs always does win. but we know dave ramsey spirited debate there between the lottery in iowa and somebody who things it is a curse on society. if i was to win tonight and i'm going to be purchasing tickets. should i take the lump sum or the other option the cash option? >> annuity right? you can take it over a number of years. which one should i do? >> i'm a side bar on a second and come back if i can. i think he sounds like a nice gentleman but we need to know that the lottery that are targeting the
also the fiscal cliff. like a lot of things, trying to find a better job can be frustrating. so at university of phoenix we're working with a growing list of almost two thousand corporate partners - companies like microsoft, american red cross and adobe - to create options for you. not only that, we're using what we learn from these partners to shape our curriculum, so that when you find the job you want you'll be a perfect fit. let's get to work. >>> i would say the irs always wins....
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cliff. for more, go to our website, c- span.org. grover norquist of americans for tax reform talks about his no tax increase pledge. that is at c-span.org. tomorrow on "washington journal ," julie rovner discusses the health care law. kem dixon looks at the payroll tax cut that was enacted in 2010 and if the white house plans to extend it. then a discussion of whether will be extended and the impact on our current economy. plusher e-mails, phone calls, and tweets. >> on 16 or 17 basis in the united states we have military run schools. the average cost per child per year in those schools is $50,000. almost four times what the rest of the public education costs. the vast majority of our bases used public schools. we could take the money we are spending today, paying every public school system 14 dozen dollars per child, and save billions of dollars per year, and with the same or better outcomes. >> this weekend, you can talk with senator tom coburn about the fiscal cliff and the future of the
cliff. for more, go to our website, c- span.org. grover norquist of americans for tax reform talks about his no tax increase pledge. that is at c-span.org. tomorrow on "washington journal ," julie rovner discusses the health care law. kem dixon looks at the payroll tax cut that was enacted in 2010 and if the white house plans to extend it. then a discussion of whether will be extended and the impact on our current economy. plusher e-mails, phone calls, and tweets. >> on 16 or 17...
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if we have to be here christmas week in order to protect the american public from the fiscal cliff, i'm happy to be here and so are my colleagues. >> i hope everybody speaks greek because that would be the appropriate language to use the week after christmas. thank you. get it done before christmas. thank you u.s. congressman litery, thank you so much for coming. thank you congressman connolly. up next, president obama had mitt romney over for lunch at the white house. do you believe it? i'd love to know what happened in that room. it's the latest edition in the often frosty relationship between the presidential rival. it was pretty worm for about an hour on election night. this is "hardball," the place for politics. two years ago, the people of bp made a commitment to the gulf. bp has paid over twenty-three billion dollars to help those affected and to cover cleanup costs. today, the beaches and gulf are open, and many areas are reporting their best tourism seasons in years. and bp's also committed to america. we support nearly 250,000 jobs and invest more here than anywhere else. we'r
if we have to be here christmas week in order to protect the american public from the fiscal cliff, i'm happy to be here and so are my colleagues. >> i hope everybody speaks greek because that would be the appropriate language to use the week after christmas. thank you. get it done before christmas. thank you u.s. congressman litery, thank you so much for coming. thank you congressman connolly. up next, president obama had mitt romney over for lunch at the white house. do you believe it?...
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cliff. this just hours after she spoke at a women's dinner here is what she had to say. >> we need to grow our mobile expertise really quickly. one of the things we concluded is that yes, we need to hire one by one, won't it be great if we got shrugs of people that were a team, already knew how to work together? so we've been looking at aqua hires, we've done our first one. >> in addition, myer says yahoo will possibly look to partnership was other companies. more bad news on the hewlett-packard front. deals with the falout with autonomy write down, moody's cut the ratings today, three level as above junction status. moody's says it's worried about hp ability to compete as well as numerous execution challenges. and apple is winning in the netherland. a dutch court banned sale of some gal yachlsy product that's allegedly infringe on the apple photo navigation patents. the ban only applying to older products that don't run on updated photo galleries but samsung still going to have to pay apple
cliff. this just hours after she spoke at a women's dinner here is what she had to say. >> we need to grow our mobile expertise really quickly. one of the things we concluded is that yes, we need to hire one by one, won't it be great if we got shrugs of people that were a team, already knew how to work together? so we've been looking at aqua hires, we've done our first one. >> in addition, myer says yahoo will possibly look to partnership was other companies. more bad news on the...
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. >> and finding a way to steer clear of the fiscal cliff. the chief fiscal cliff negotiator tim geithner working with leaders to get things moving. there are just 33 days left to get a deal done. congress breaks for the holidays in just 15 days. dan lothian joins us. so the clock is ticking away. >> after the meeting the president had after he went to southeast asia the lawmakers were optimistic. now you are hearing some pessimistic as the clock winds down. you see the president pushing the bush era tax cut extension for middle class america. the white house doesn't believe this is the comprehensive solution, but part of a solution. they are reaching out to small business owners, sitting down with top ceos yesterday. he will head to pennsylvania tomorrow. you saw him at the white house with middle class america who e-mailed the white house about how they would be impacted if the middle class tax cuts were not extended for them. the president sounding optimistic that the deal can get done. >> our ultimate goal is an agreement that gets our lo
. >> and finding a way to steer clear of the fiscal cliff. the chief fiscal cliff negotiator tim geithner working with leaders to get things moving. there are just 33 days left to get a deal done. congress breaks for the holidays in just 15 days. dan lothian joins us. so the clock is ticking away. >> after the meeting the president had after he went to southeast asia the lawmakers were optimistic. now you are hearing some pessimistic as the clock winds down. you see the president...
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he was talking earlier today about these negotiations to avoid going over the fiscal cliff. >> so right now all eyes are on the white house. the country doesn't need a victory lap. it needs leadership. it's time for the president, congressional democrats to tell the american people what spending cuts they're really willing to make. >> so here's the question, ari. why go public with those kinds of concessions? don't you make those kinds of concessions in private negotiations as opposed to speaking publicly about them right now and giving away your own leverage, if you will? >> yes, you do. you have to make those in the private talks. not in the public maneuvering that's going on. but i also worry that it's not being said in the private talks. and that's why you're hearing speaker boehner say what he's saying. wolf, i'm getting a growing sense from the people that i talk to that there's a real exasperation where we are where we were in 2011 with nothing happening in these talks. that can happen for a little while, but we are running out of time. there's not a lot of time to get this done
he was talking earlier today about these negotiations to avoid going over the fiscal cliff. >> so right now all eyes are on the white house. the country doesn't need a victory lap. it needs leadership. it's time for the president, congressional democrats to tell the american people what spending cuts they're really willing to make. >> so here's the question, ari. why go public with those kinds of concessions? don't you make those kinds of concessions in private negotiations as...
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it will be such a shock to the system that it has been called the fiscal cliff. our coverage starts on the white house lawn tonight with major garrett. major. >> reporter: scott, the saesident said for the first time, there is a two-step process to averting the fiscal cliff. republicans must act now to prevent a tax increase for households earning less than $250,000. do that now, president obama said, and he and congress can work out the details of spending cuts later. ( applause ) before a crowd of supporters, the white house invited from the mid-atlantic region, president obama put congressional republicans on notice. >> it's too important for washington to screw this up. now is the time for us to work on what we all agreed to, which is lets keep middle class taxes low. that's what our economy needs. that's what the american people deserve. gd if we get this part of it right, then a lot of the other issues surrounding deficit reduction in a fair and balanced, responsible way are going to be a whole lot easier. >> reporter: white house officials say mr. obama is
it will be such a shock to the system that it has been called the fiscal cliff. our coverage starts on the white house lawn tonight with major garrett. major. >> reporter: scott, the saesident said for the first time, there is a two-step process to averting the fiscal cliff. republicans must act now to prevent a tax increase for households earning less than $250,000. do that now, president obama said, and he and congress can work out the details of spending cuts later. ( applause ) before...
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cliff, it's one reason why we believe we put revenue on the table as long as it's accompanied by serious spending cuts to avert this crisis. >> > in order to kick the debt ceiling the wanted its deficit reduction and this is basically that a stop- active measure to save it or to get a deal done. nobody wants to go there but we need deficit reduction and this is how we to it. >> . read saying that was not doing that well but now, john boehner is a saying that it is a little bit better what is going on? >> not really anything they are still talking at each other and the president is now bringing more to the bargaining table for john boehner to bring more provisions for the debt ceiling. >> at least fo
cliff, it's one reason why we believe we put revenue on the table as long as it's accompanied by serious spending cuts to avert this crisis. >>
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what we need is the president to come forward with a plan on how he wants to avert the fiscal cliff. it is irresponsible of us not to deal with the spending issue and simply to push for raising taxes on hard-working american people. many of us come from small- business backgrounds -- family owned businesses. we understand the situation very well. but it isn't -- it is important we not pass this problem along to our children and grandchildren, but we deal with it in a responsible way. the republicans have come forward with a responsible plan and will continue to do that and look for ways to keep us from going over this fiscal cliff. >> we have time for a couple questions before we go to our meeting. >> your colleague has told other colleagues that it is time to vote to extend the middle-class tax cut -- i want to get your take on his comments. more importantly, is this the direction the conference is going? >> i told tom earlier that i disagree with him. he is a wonderful friend and a great supporter of mine, but raising taxes on the so-called top 2%, half as taxpayers are small busin
what we need is the president to come forward with a plan on how he wants to avert the fiscal cliff. it is irresponsible of us not to deal with the spending issue and simply to push for raising taxes on hard-working american people. many of us come from small- business backgrounds -- family owned businesses. we understand the situation very well. but it isn't -- it is important we not pass this problem along to our children and grandchildren, but we deal with it in a responsible way. the...
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economy, the american people, through the fiasco of going over the fiscal cliff. >> which is worse though for the -- [inaudible] >> as i told the president a couple weeks ago, there's a lot of things i have wanted in my life but almost all of them had a price tag attached to them and if we're going to talk about the debt limit in this, then there is going to be some price tag associated with it. >> last question. >> are you standing by your -- [inaudible] >> i continue to believe that any increase in the debt limit has to be accompanied by spending reductions that meet or exceed it. >> thank you. jenna: speaker boehner in his own words disappointed by the meetings this morning and the prospects apparently of any sort of deal about what to do about this fiscal cliff we've been talking so much about and balance between revenue growth and spending cuts. speaker boehner is saying that there is a lack of recognition in his opinion by the white house about how serious the spending problem that we do have in this country. he wants the spending cuts on the table. charles payne is with us from the
economy, the american people, through the fiasco of going over the fiscal cliff. >> which is worse though for the -- [inaudible] >> as i told the president a couple weeks ago, there's a lot of things i have wanted in my life but almost all of them had a price tag attached to them and if we're going to talk about the debt limit in this, then there is going to be some price tag associated with it. >> last question. >> are you standing by your -- [inaudible] >> i...
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. >> it's not a good idea to go over the fiscal cliff. no one wants to see that happen. it is a bad idea. but a worse idea is to accept a compromise that allows the wealthy americans to continue to not pay their fair share because the result of that will be middle class families will bear the entire burden of the challenges that this country faces. that's not fair or responsible. >> how do we do it? how does this country manage to get a decently fair deal in time to beat this cliff, avoid it? >> tom cole said it all. take what the president has offered right now. make sure that 98% of the people aren't affected by any tax increases. that's how we get it started. and patty is absolutely right. we have all these problems facing us and this is the way to do it. a bad deal would be saying to the millionaires and billionaires, you're going to get a big tax break. that's what the elections was about. we held an election. it isn't as if this was a sidebar issue, chris. this was a main issue. >> i know. >> so, we can fix this. we can stop the sequester right now. we can make sur
. >> it's not a good idea to go over the fiscal cliff. no one wants to see that happen. it is a bad idea. but a worse idea is to accept a compromise that allows the wealthy americans to continue to not pay their fair share because the result of that will be middle class families will bear the entire burden of the challenges that this country faces. that's not fair or responsible. >> how do we do it? how does this country manage to get a decently fair deal in time to beat this cliff,...
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they offered support for resolving the fiscal cliff crisis with a proposal that includes higher taxes for those who make more than a quarter million dollars a year. >> at this point both sides have acknowledged that there is going to be revenue concessions and there will be entitlement concessions. in fact if you listen to it, again, i'm not a master of the political art here, but i would say if you have these point of views in the business context as close as they are, i would say a deal would be in reach. >> interesting. bill ford jr. agrees with blankfein saying he's confident the obama administration can reach a deal with congress to avoid the fiscal cliff. but speaking with reporters in bangkok, ford says the automaker is prepared for any outcome. and it seems there's been a bit of a panic among retail investors in the credit market amid pointing fears other the fiscal cliff. our next guest says that could create buying opportunities. he's brian reynolds, chief market strategist. brian, good morning or good night, i guess i should say, depending on whether you've been to bed yet.
they offered support for resolving the fiscal cliff crisis with a proposal that includes higher taxes for those who make more than a quarter million dollars a year. >> at this point both sides have acknowledged that there is going to be revenue concessions and there will be entitlement concessions. in fact if you listen to it, again, i'm not a master of the political art here, but i would say if you have these point of views in the business context as close as they are, i would say a deal...
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a fiscal cliff we're likely headed for more economic growth. right? one of the best economic forecasters around says not only is the u.s. economy headed for a recession with or without the fiscal cliff, he says we're already in one. listen to what the person of the cycle research institute told me today. >> the recession has started. we are a few months in to it. and i think if you wanted to argue against me, i would point to jobs, jobs are still growing but looking at the last seven recessions in three of them, jobs continued to grow in to the recession. >> his group bases this on four economic indicators. let me show you. industrial production, that's all the stuff, top left, all the stuff made in the u.s. personal income, you know what that is, sales and employment. look at those lines. based on official government data this year they show a drop off in three of the four indicators starting in july. only employment is steady. that's july. that means we're in a recession right now. may sound obvious to some of you or ridiculous to others but
a fiscal cliff we're likely headed for more economic growth. right? one of the best economic forecasters around says not only is the u.s. economy headed for a recession with or without the fiscal cliff, he says we're already in one. listen to what the person of the cycle research institute told me today. >> the recession has started. we are a few months in to it. and i think if you wanted to argue against me, i would point to jobs, jobs are still growing but looking at the last seven...
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ashley: the looming fiscal cliff hits in just about a month. we follow every second of that as painful as it is. many unemployed americans will lose their unemployment benefits. sounds awful if you're one of those folks, but to generous benefits prolonged joblessness. and what effect will this have on the economy as a whole? gerri willis is here to sort it all out. >> look, you're absolutely right. a lot of people falling off the unemployment world. the numbers are pretty astounding, millions of people, 40% will lose their benefits with 5 million people getting unemployment right now. the length of time to get benefits has decreased, but the cbo said if you fully extend the benefits yet again, 300,000 jobs created. maybe this is the secret job creation we have been waiting for from the administration. tracy: helps the economy because you go out and spend it. >> a lot of people say we have to get people motivated to find their job, growing company, come up with a new idea, kept hustling and a lot of people are nervous about what has become an en
ashley: the looming fiscal cliff hits in just about a month. we follow every second of that as painful as it is. many unemployed americans will lose their unemployment benefits. sounds awful if you're one of those folks, but to generous benefits prolonged joblessness. and what effect will this have on the economy as a whole? gerri willis is here to sort it all out. >> look, you're absolutely right. a lot of people falling off the unemployment world. the numbers are pretty astounding,...
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we know we have a fiscal cliff, we know that we don't want to see tax rates go up for the middle class and yet the republicans say that they're going to hold up all those tax breaks for 98% of our people because they want to hold onto the tax breaks for billionaires and for millionaires. we had an election about that. people agree with us. and i suppose we're going to have to hear these speeches every day about how we're going to grow our way out of the deficits, we're going to grow our way out of the deficits, really. look what happened under george w. bush. he inherited surpluses, turned it into deficits as far as the eye can see with huge tax cuts to the millionaires and billionaires, huge. the very tax cuts our friends are defending right now. he did two wars on a credit card and we wound up in a mess. so we have to come together with the best ideas that we have, and i know we can reach agreement, but let us do the first step which is to take care of 98% of the people. the republicans want to have tax breaks for 100% of the people. we're saying can you take 98%? if i stopped you on
we know we have a fiscal cliff, we know that we don't want to see tax rates go up for the middle class and yet the republicans say that they're going to hold up all those tax breaks for 98% of our people because they want to hold onto the tax breaks for billionaires and for millionaires. we had an election about that. people agree with us. and i suppose we're going to have to hear these speeches every day about how we're going to grow our way out of the deficits, we're going to grow our way out...
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cliff by christmas. president obama says he would like congress to pass a bill even sooner to extend tax cuts for the middle class families. and he invited some of those middle class americans to the white house today to help make his case. >> i have got a pen. [ laughter ] i'm ready to sign it. [ applause ] so, my point here today is is to say let's approach this problem with the middle class in mind. the folks who are behind me and the millions of people all across the country who they represent. >> shepard: well, republicans are saying they need some spending cuts. that they will also have to be part of the deal. and they are accusing the president of campaigning instead of negotiating. >> i mean, every week he spends campaigning for his ideas is a week that we are not solving the problem. it's completely counter productive. the election is over. he won. congratulations. and we have got a hard deadline here, however, and it's still he he is still out on the campaign trail, kind of celebrating. >> shep
cliff by christmas. president obama says he would like congress to pass a bill even sooner to extend tax cuts for the middle class families. and he invited some of those middle class americans to the white house today to help make his case. >> i have got a pen. [ laughter ] i'm ready to sign it. [ applause ] so, my point here today is is to say let's approach this problem with the middle class in mind. the folks who are behind me and the millions of people all across the country who they...
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a lot of action in washington on the fiscal cliff talk. >> we're going to begin there. signs, perhaps, of a potential compromise there to avoid the so called fiscal cliff that would raise taxes on a typical american family by some $2,200. republican congressman tom cole, of oklahoma, is urging republicans to accept president obama's deal and allow the bush-era tax cuts on the wealthy to expire for now. so tax cuts for the middle class can stay in effect. but house speaker john boehner remains opposed, saying a tax hike on the wealthy will hurt the economy. >>> today, president obama is hosting mitt romney at the white house for a private lunch. after the election, the president promised to reach out to romney for his ideas. >>> and overseas, the u.s. could be getting more involved in the civil war in syria. "the new york times" is reporting the obama administration is considering options, including arming the rebel fighters there who have made progress in recent days in battling bashar al assad's forces. >>> and more trouble for president obama's expected nominee for se
a lot of action in washington on the fiscal cliff talk. >> we're going to begin there. signs, perhaps, of a potential compromise there to avoid the so called fiscal cliff that would raise taxes on a typical american family by some $2,200. republican congressman tom cole, of oklahoma, is urging republicans to accept president obama's deal and allow the bush-era tax cuts on the wealthy to expire for now. so tax cuts for the middle class can stay in effect. but house speaker john boehner...
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happening relating to the fiscal cliff negotiations. coming up in half an hour we begin to show you the remarks from congressional leaders on where things currently stand. we start with house speaker john boehner. also house minority leader nancy pelosi and senate democratic leader harry reid. that starts at 8:00 p.m. eastern. tomorrow on "washington journal," a congressional historian gives the history of the filibuster rule and the changes senate leader reid is pursuing. then a guest from politico examines tax credits aimed at families and businesses that will be impacted if congress does not act on the so-called fiscal clef. beginning at 7:00 a.m. eastern on c-span. today in new york at the united nations, the general assembly voted 138-9 with 41 countries abstaining to recognize the state of palestine. it updates the palestinian status to a non member observer state at the united nations. after the vote, u.s. ambassador to the u.n. susan rice said the vote places further obstacles in the path of peace. here are comments -- are about
happening relating to the fiscal cliff negotiations. coming up in half an hour we begin to show you the remarks from congressional leaders on where things currently stand. we start with house speaker john boehner. also house minority leader nancy pelosi and senate democratic leader harry reid. that starts at 8:00 p.m. eastern. tomorrow on "washington journal," a congressional historian gives the history of the filibuster rule and the changes senate leader reid is pursuing. then a...
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clearly, when you look at the fiscal condition, the consequences of going over the fiscal cliff -- republicans are going to have to abrogate that pledge. it is not conservatism bound to 35% tax rate. that is not one of the and mutable principles of american conservatism. we want taxes to be as low as they can possibly be while running a government that is not bankrupt and in structural deficit for as far as the eye can see. you will have to see republican leaders step up here and meet the president's somewhere in the middle on this to get the country's fiscal path on a path to solvency so we can start to have economic growth again in the country. >> do you want to comment a little bit about what you expect from the next six weeks? not even six weeks? however many weeks it is now between -- between now and the start of this booklet. working in the white house limits what you can say, but how you see his plan at between now and january? >> steve is exactly right, all the you are seeing a very concerted members of the house dig in on a no revenues. it is good to see many republicans saying yes. i
clearly, when you look at the fiscal condition, the consequences of going over the fiscal cliff -- republicans are going to have to abrogate that pledge. it is not conservatism bound to 35% tax rate. that is not one of the and mutable principles of american conservatism. we want taxes to be as low as they can possibly be while running a government that is not bankrupt and in structural deficit for as far as the eye can see. you will have to see republican leaders step up here and meet the...